Hong Kong has introduced an updated policy for digital assets focused on creating an innovative ecosystem and enhancing regulation.
Policy Statement 2.0 and Its Contents
On June 26, the Hong Kong government issued Policy Statement 2.0 on the Development of Digital Assets, outlining the next phase of its regulatory strategy. The update builds on the initial framework introduced in 2022 and introduces a new "LEAP" framework designed to establish a trusted and innovation-driven digital asset ecosystem.
Key Initiatives: Regulation and Tokenization
A key pillar of the framework is building unified regulation and supporting tokenized real-world assets. Hong Kong plans to establish a clear regulatory regime covering crypto exchanges, stablecoin issuers, and other market participants. The updated policy also aims to grow the tokenized asset market and expand the application of such products in traditional sectors.
Partnership and Workforce Development in Digital Assets
The policy also outlines measures to position Hong Kong as a research and education hub for digital assets. Authorities plan to collaborate with academia and industry representatives to implement joint programs and develop the workforce in the digital asset sectors.
Hong Kong's updated policy aims to create a more structured and inclusive environment for digital assets, potentially strengthening its position as an international financial center.
